MARKET TALK: Berkeley FY '10 Beats Expectations - Investec

25th Jun 2010 12:50

1150 GMT [Dow Jones] Berkeley Group (BKG.LN) FY '10 results beat expectations, says Investec Securities, noting that pretax profit comes in at GBP110M versus brokerage's forecast of GBP106M. Adds that overall comments on the London market are not as bad as feared, with any post-election slowdown seen more as a temporary blip than a fundamental change. "We are nudging up our FY '11 estimates by 8% at the EPS level," it adds. Says Berkeley remains one of the brokerage's key picks in the sector with a high quality management team and land bank. Has 1077p target price and buy rating. Shares +0.6% at 804p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 25, 2010 07:50 ET (11:50 GMT)